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Lean Hogs May '24 (HEK24)

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Lean Hogs Futures Market News and Commentary

Hogs Follow Up USDA Report with Friday Gains

Lean hog futures were $1 to $1.37 higher on Friday, with front months down 2 to up 22 cents. July was $2.10 lower this week. USDA’s national base hog price was reported at $93.44 on Friday afternoon, down $1.85 from the day prior. The CME Lean Hog Index was back down 7 cents on June 24 at $91.78 

USDA’s Hogs and Pigs showed June 1 hog inventory down 0.04% from last year at 73.664 million head. Hogs kept for breeding were down 1.16% at 5.88 million head, with market hog inventory up just 0.05% to 67.784 million head, vs. trade estimates of 1.1%. The March-May pig crop was up 0.2% to 33.521 million head. Farrowings in that period were down 1.02%. Farrowing intentions for the June-August period are seen at 2.9 million head, down 2.19% from last year.

Commitment of Traders data tallied managed money at a net short of 25,560 contracts as of June 23 in lean hog futures and options, an increase of 4,601 contracts.

USDA’s pork carcass cutout value was 15 cents higher in th... Read more

Contract Specifications

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Contract
Lean Hogs
Contract Size
40,000 pounds
Tick Size
0.00025 per pound ($10.00 per contract)
Trading Hours
8:30a.m. - 1:05p.m. (Settles 1:00p.m.) CST
Exchange
CME
Point Value
$400
Margin/Maintenance
$1,650/1,500
First Notice Date
05/14/24
Expiration Date
05/16/24 (expired)

Seasonal Chart

Lean Hogs May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Jun 23, 2026

View Chart Details
Commercials - Long / Short
130,019 (-9,995)
74,111 (-5,112)
Non-Commercials - Long / Short
69,224 (+2,355)
126,433 (+222)
Producers - Long / Short
48,419 (-9,133)
67,134 (-3,960)
Swap Dealers - Long / Short
77,564 (-596)
2,941 (-886)
Managed Money - Long / Short
51,744 (+2,888)
85,396 (+7,900)
Other Reportables - Long / Short
17,480 (-533)
41,037 (-7,678)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
91.400 +0.46%
on 05/13/24
98.975 -7.22%
on 04/23/24
-2.050 (-2.18%)
since 04/12/24
3-Month
88.400 +3.87%
on 02/16/24
99.725 -7.92%
on 04/10/24
+3.325 (+3.76%)
since 02/14/24
52-Week
79.250 +15.87%
on 01/02/24
99.725 -7.92%
on 04/10/24
+5.125 (+5.91%)
since 05/12/23

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Most Recent Stories

More News
Cattle Markets fall back

Futures ignore steady cash and trade lower

Cattle Fall Back on Friday

Live cattle were down 40 cents to $1.42 across most contracts, with June the lone exception, up a nickel. August was down 80 cents this week. Cash trade saw volume pick up late on Friday to $260 live and...

LEV26 : 239.200s (-0.59%)
LEQ26 : 245.825s (-0.57%)
LEM26 : 257.450s (+0.02%)
GFU26 : 367.675s (-1.00%)
GFQ26 : 369.850s (-0.92%)
GFV26 : 364.600s (-1.02%)
Hogs Follow Up USDA Report with Friday Gains

Lean hog futures were $1 to $1.37 higher on Friday, with front months down 2 to up 22 cents. July was $2.10 lower this week. USDA’s national base hog price was reported at $93.44 on Friday afternoon,...

HEQ26 : 96.575s (-0.03%)
HEN26 : 92.925s (+0.24%)
HEV26 : 81.950s (+1.24%)
Shootin' the Bull about heaping on the risk

Capital outlay hit a new high this week as historical prices were paid in multiple weight categories. This widened the starting feeder to finished fat spread by over $20.00 from June 16 to June 26.

Hogs Posting Strength on Friday

Lean hog futures are up a tick to $1.10 in the front months on Friday. USDA’s national base hog price was not reported on Friday morning. The CME Lean Hog Index was back down 7 cents on June 24 at $91.78...

HEQ26 : 96.575s (-0.03%)
HEN26 : 92.925s (+0.24%)
HEV26 : 81.950s (+1.24%)
Cattle Facing Friday Weakness

Live cattle are 35 cents to $1.20 in the red at midday. Cash trade saw some very light volume $260 live and $408 dressed in the north on Wednesday, with a few bids at $255. The Friday morning Fed Cattle...

LEV26 : 239.200s (-0.59%)
LEQ26 : 245.825s (-0.57%)
LEM26 : 257.450s (+0.02%)
GFU26 : 367.675s (-1.00%)
GFQ26 : 369.850s (-0.92%)
GFV26 : 364.600s (-1.02%)
Lean Hogs Are Rising. You Can Thank the USDA and Elevated Beef Prices.

August lean hog futures present a buying opportunity on more price strength.

HEQ26 : 96.575s (-0.03%)
HEQ26 : 96.575s (-0.03%)
Hogs Look to React to Friendlier USDA Data

Lean hog futures posted Thursday losses of a dime to $1.15 in the front months, with other contracts steady to 37 cents higher. Open interest was up 2,921 contracts, mainly in October and beyond. USDA’s...

HEQ26 : 96.575s (-0.03%)
HEN26 : 92.925s (+0.24%)
HEV26 : 81.950s (+1.24%)
Cattle Look to Close out the Week

Live cattle were steady to $1.40 higher on Thursday, with December down a dime. Open interest was down 503 contracts on Thursday. Cash trade saw some very light volume $260 live and $408 dressed in the...

LEV26 : 239.200s (-0.59%)
LEQ26 : 245.825s (-0.57%)
LEM26 : 257.450s (+0.02%)
GFU26 : 367.675s (-1.00%)
GFQ26 : 369.850s (-0.92%)
GFV26 : 364.600s (-1.02%)
Hogs Close Mixed Thursday, as July Remains Weak

Lean hog futures posted Thursday losses of a dime to $1.15 in the front months, with other contracts steady to 37 cents higher. USDA’s national base hog price was reported at $95.29 by USDA on Thursday...

HEQ26 : 96.575s (-0.03%)
HEN26 : 92.925s (+0.24%)
HEV26 : 81.950s (+1.24%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 92.108
2nd Resistance Point 91.992
1st Resistance Point 91.908
Last Price 91.825s
1st Support Level 91.708
2nd Support Level 91.592
3rd Support Level 91.508

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52-Week High 99.725
Fibonacci 61.8% 91.904
Last Price 91.825s
Fibonacci 50% 89.488
Fibonacci 38.2% 87.071
52-Week Low 79.250

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